Types and Chapters of Bankruptcy

Types of Bankruptcy and Chapters of Bankruptcy

NC Bankruptcy Lawyer in Charlotte North Carolina for Chapter 7 / Chapter 13

The Bankruptcy Code is divided into 2 Types, and 5 Chapters.

The two types are:

1) Straight/Liquidation; (Chapter 7 only) and
2) Reorganization/Repayment; (all the rest: Chapters 9, 11, 12, and 13)

The two chapters that usually apply to consumers are Chapter 7, where most or all of your debt is wiped out, and Chapter 13, which involves a repayment plan.


Chapter 9 is for cities. 
 
Chapter 11 is a reorganization for a corporation or someone who has a lot of debt, normally more than a million dollars. 

Chapter 12 is for farmers.


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Bankruptcy Glossary

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The Law Office of Susanne M. Robicsek is
a Federally Designated Debt Relief Agency
under the Bankruptcy Code.
I file bankruptcy cases for people in financial need,
and have been doing so since 1989.

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